Maximize potential, minimize disputes

DataArc 360TM is a credit reporting software that will help your organization adhere to the Metro 2® credit reporting format. Data files are checked against the Metro 2® rules, and any discrepancies are flagged for correction before they are submitted to the bureaus.

Created by the Consumer Data Industry Association (CDIA), Metro 2® is a standard electronic reporting format that data furnishers must adhere to when submitting consumer credit information to the credit bureaus. It is designed to help data contributors ensure they are providing accurate, quality consumer credit information and complying with the Fair Credit Reporting Act (FCRA).

DataArc 360TM is an innovative data management platform with pre-built rules to help data furnishers minimize disputes and support organizational data management processes. With customizable dashboards and alerts, data furnishers are able to monitor their data and improve accuracy in credit reporting.

In this demonstration, I am going to take you through some of the capabilities of our Data Arc 360 platform powered by Experian Pandora. Often ingesting your metro 2 data we can evaluate these against one hundred and thirty-three pre-built rules provided by Experian. This looks at a proactive approach to understanding where you data quality issues reside before sending it out to the various bureaus. Another thing that we do recommend is running this against your full volume of data.

The rules themselves are essentially categorized into two primary categories. One is we look at the integrity of the key fields within your metro 2 file. This looks at the length, the formats, and the appropriate values for some of the key fields within here. The second category looks at logical conditions, taking multiple data elements, performing some type of calculation against it, and then scoring it to say if it is a pass or fail, a true or false.

Within the rules dashboard itself, we can set thresholds, so each of the rules themselves can be determined by the percentage that truly fails, truly pass, or ones that you want to keep an eye on. For any of those that do fail, alert systems are in place to send an email out to the data owner to enable them to look at the underlying data and identify where those data quality issues reside and do that root cause analysis.

The rules dashboard itself is interactive, so at any point, I can look at the overall scores and I can dig deeper into the rules that fail. One of the ones that come up quite often are centralized around social security numbers. We have a ruling here that looks at the integrity of social security numbers and identifies if there are any that pass or fail. For any rule that we have in here, we can drill down to the underline data and look at the records that have passed, the records that have failed, or we can also view them as changes over time, so as we're implementing more data we can see whether that score is getting better or getting worse and do some root cause analysis against it to find out why.

At any point, you can go to this particular rule, such as a social security number and see which rows have actually failed. Navigating to the underline data, we have techniques to quickly go to the fields that we are interested in such as a social security number and see why these have failed. We have things like repeating numbers, sequential numbers, or formats that just don't fit a required social security number.

One of the key features within here is that you do not have to start with the overall rules in the dashboard, we can actually work with the data itself and identify where any data quality issues reside. One of the ones that come into play quite often is date of births. So I can search my birth date and work with this field to get a better insight into any outliers that may exist within here, not with just the format but anything that resides outside of the norm for a birth date.

In this example, we've got the Metro 2 format of a date and let's say part of my curiosity, I want to see what that looks like as a true date. I can insert a column next to it and bring up our rule builder, search for any date functions that we have and actually perform a conversion. All of this functionality is driving drop functionality and we have over 500 functions to do something with the data. In this case, I want to search for my birth date and covert it to a date type. Once I have this, I can then evaluate whether these are accurate dates by inserting additional columns, I can add a validation to say is this a validating time or because we're dealing with birth dates, I can see whether this person is off the age range we need. Once we get the answers we want, we can quickly profile this information and see what that looks like across the board.

In this example, we can see that there are some issues. We have seven records in here that are not truly dates. They seem to have some alphabetic characters within them, but we can also highlight those that are under a certain age such as zero and eleven, or over a certain age such as one hundred and fifty-three. These outliers can be selected and we can drill down to the underlying data itself. Within here, there are a lot of capabilities to add notes to this issue that I have identified and can put a textual description within it. I can then add this as an attachment and assign it to an individual or a group to further investigate. This was a brief demonstration of some of the capabilities around Data Arc 360. Thank you.

Maintain the highest level of data quality

Many financial institutions see data as an integral part of forming a business strategy.

Financial institutions report facing a challenge in maintaining consistency across their organization.

For the majority of financial institutions, there is some centralization in how their data quality is reviewed and maintained internally.

Data monitoring

Combing through data to make sure it's accurate requires a commitment of time and resources. With our automatic monitoring, control your data from anywhere. Customize data processes to your needs with a combination of alerts, dashboards and rules, to ensure your data is fit for purpose.

Data profiling

Highlight opportunities and detect outliers or unusual values within your data with Experian Pandora’s data profiling tool. This tool grants you the ability to proactively identify any and all problems within your data. Our data profiling capabilities will help you better understand your customers and highlight any defects in your dataset.

Full feature set

Profiles data against Metro 2® standards quickly, allowing you to browse through full volumes of data within seconds.

Helps you adhere to Metro 2® standards with more than 115 pre-built rules.

Monitors your data around the clock for quality and adherence to business rules.

Quickly identifies and resolves errors in your data file prior to submission to the credit bureaus.

Empowers both business and technical users to proactively manage credit files with role-based security permissions.

Reduces the risk for costs and fines associated with inefficiencies submitted to the credit bureaus.

Remaining compliant doesn’t need to be challenging. DataArc 360TM makes it easier to report on consumer credit behavior and gives you added confidence that your files are accurate and FCRA-compliant. Check out how your institution can benefit from DataArc 360TM .

Data quality is just one piece of the data management puzzle.

Quit wasting business time and money on disputes, fines, and noncompliant data. Let us help you ease the Metro 2® compliance process. DataArc 360TM can help you identify data issues as they happen and empower you to remedy them, rather than spending time reactively solving data quality problems after they become disputes.

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